New National Audit Bill Sections (4) and (53)

Saturday, 16 July 2016 00:00 - - {{hitsCtrl.values.hits}}

By K.C. Vignarajah

The fine details and implications of this very important topic cannot be covered well, within my available free minutes before your timeline. I cannot also abandon a duty of the average decent citizen (ADC) on this matter which goes to the roots of ensuring good governance, transparency and accountability of funds belonging to the public, directly and/or indirectly.

The above sections are acceptable, even may be necessary, in the context of widespread bribery and corruption by politico business operations across borders, to Panama, Dubai, Cayman, BV and Jersey Islands, etc. Public and investor confidence was shattered. We wrote several years ago on the ‘Collapse of Professionalism and Institutions’. To re-establish, we must not be afraid of the light.

A solid structure of internal checks and balances in the administration which must be efficient, honest and sturdy. The Secretary at the apex was empowered to levy penalties and effect transfers, etc. The Auditor General’s powers must supersede those of the Secretary appointed by the ever-changing political scenario of nearly 90 Ministers and Deputies.

The Constitutional Council, the Public Services Commission (PSC), Judicial Services Commission and other commissions are part of the surveillance framework.

Criminal breach of trust, unjust enrichment of self or a group, impoverishing the trusting public, stakeholder or shareholders must be severely dealt with.

‘Sovereignty of the people’ is a most abused term. To retain it effectively, the powers of the Judiciary, the Legislature and the Executive must be well defined and balanced; men of the highest integrity and independence should be found for these posts. The recent Central Bank Governor stakes fulfilled this dream: a non-politicised, eminently suitable Dr. Indrajit Coomaraswamy, was appointed by consensus.

Some politicians funded by the mafia, speak and vote for the will of the mafia, instead of the people’s. Print and electronic media expenses must be provided by the Elections Commissioner. The Auditor General must audit on a current basis instead of months later.

In this world of great advanced technology and innovation, transfer of money and resources take place instantly. It can be used well by the creative, competitive, caring, enterprise sector to greatly benefit humanity, the country and themselves. They can also be used by the mafia for self-enrichment at the expense of the economy, the country and thousands of trusting investors and shareholders.

We have extolled the virtues of very many good entrepreneurs. They will not worry about audits as long as the auditors are sincere and honest. We also encouraged others to do so; and publicly congratulated those who did.

The managers or the executive must not appoint, control or influence the auditors. It may be like thieves appointing the magistrate.